Apologies for the never-ending headline, but Matthew Simmons brought a lot to the table in this 5-minute, Bloomberg clip from earlier this afternoon. If you've been following Simmons, you know he has been right since day one of the spill.
The relief wells will fail because there is no reliable well casing. Do not immediately discount the nuclear option. Simmons is confident we'll learn in August that we really don't have any other choice.
If the well is fractured in multiple spots below the seabed, as is being reported by a variety of sources, then BP's Fantasy Cap is merely for show. Meanwhile , the official daily spill estimate has been raised again. Simmons says it's much higher -- closer to 100,000 barrels per day.
And did I mention the undersea oil lake that now covers 40% of the Gulf of Mexico.
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